By Steve Goldstein & Matt Andrejczak, MarketWatch
Unicredito Italiano SpA agreed to buy HVB Group of Germany and its publicly-traded subsidiaries for 19.2 billion euros ($23.2 billion) in stock.
The deal marks Europe’s biggest cross-border banking acquisition and creates a financial powerhouse in central and eastern Europe.
The agreement calls for Unicredito to swap 5 of its shares for each HVB share. Based on HVB’s closing stock price Friday, the deal equates to a premium of over 2%.
For this complete story, please visit European Banks in Mega-Merger Deal; $23.2 billion Value.
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